Aging population is driving the overall healthcare segment across the globe. Moreover, increasing focus on the quality of life of this cohort is further boosting the health care market. Cardiac disorders are highly common and people are aware of the consequences and readily seeking treatments for the same. These defects may be present at birth or may occur late in life due to wear & tear of the tissues. This adds to the already existing lifestyle diseases related to heart and results in occurrence of stroke. Thus, operations to reduce the risk of stroke are gaining roots in the market, which is expected to drive the structural heart devices market.
Transcatheter procedures are preferred over open-heart surgeries due to advantages such as lesser recovery time and procedural risk. It also avoids cardiopulmonary bypass, which reduces risk, thereby giving enhanced patient care. Operator expertise adds to the improved results of these procedures as compared to open-heart procedures.
Structural Heart Devices Market Share, By Geography, 2016 (%)
Positive clinical evidence of structural heart devices are resulting in their increased use in the treatment of CHD. Similarly, other data supporting the results such as the STS National Database and American Heart Association Abstracts also encourage surgeons to conduct these procedures. Guidelines by the American College of Cardiology, American Stroke Association, and American Heart Association also standardize the procedures, thereby reducing the intraoperative risks and improve the outcomes of the surgeries.
Asia Pacific is expected to be the most lucrative region for the industry. This can be attributed to the rapidly increasing geriatric population, presence of a large patient base, growing awareness & increased healthcare expenditure, and efforts of industry players to enter the market by introducing new products.
Several regional and international players are operating in the industry. Some of the key players are Biomerics, Boston Scientific Corporation, Medtronic, CardioKinetix, Edwards Lifesciences Corporation, Abbott Laboratories, LivaNova PLC, Comed BV, JenaValve Technology, Inc., and ST. JUDE MEDICAL.
In-depth report on global structural heart devices market by Grand View Research:
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